1. What is the boundary of illegal fund-raising? If the amount of illegal fund-raising by individuals reaches more than 100,000 yuan, and the amount of illegal fund-raising by units reaches more than 500,000 yuan, it constitutes the crime of illegal fund-raising fraud. Illegal fund-raising refers to illegal absorption of public deposits or disguised absorption of public deposits. It refers to the act of absorbing funds from the public (including units and individuals) or absorbing funds in disguised form in violation of financial management laws and regulations, and promising to repay the principal and interest or pay returns in the form of money, kind, equity, etc. In a certain period of time. There are several typical crimes, such as the crime of illegally absorbing public deposits, the crime of fund-raising fraud, the crime of fraudulently issuing company stocks and bonds, and the crime of illegally absorbing public deposits. As for the crime of illegally absorbing public deposits, Professor Zhang Mingkai thinks that "only if the perpetrator illegally absorbs public deposits for the operation of monetary funds (such as issuing loans) can he be regarded as disturbing the financial order and punished for this crime". Some scholars also think that whether it constitutes the crime of illegally absorbing public deposits should be judged by the purpose of financing, if the purpose of financing is for normal use. The crime of fund-raising fraud refers to the act of illegally raising funds by fraudulent means for the purpose of illegal possession, and defrauding a large amount of funds. Equity crowdfunding is most likely to commit the crime of issuing stocks and corporate bonds without authorization. The standard for filing and prosecuting this crime is (1) the issuance amount is more than 500,000; (2) Although the above-mentioned amount standard is not met, the unauthorized issuance causes more than 30 investors to buy stocks, companies and corporate bonds; (3), can not be repaid in time; (four) other serious circumstances; In fact, when the crime of issuing company stocks and corporate bonds without authorization was introduced, new economic forms such as crowdfunding had not yet appeared. This crime aims at maintaining the order of financial management. The legal conflict between equity investment and equity investment is that equity investment is an investment behavior, and investment may have gains or losses. There are limited exit channels before listing. According to the spirit of the company law, it should be difficult with the company. If sponsors or companies are forced to buy back under the circumstance of company losses, this will undoubtedly increase the number of issuers. Two. Related Classification According to the relevant provisions of the Notice on Further Combating Illegal Fund Raising, "illegal fund raising" can be summarized as: (1) absorbing funds by issuing securities, membership cards or debt certificates. It is common to issue shares, bonds, lottery tickets, investment funds and other rights certificates in the name of futures trading, pawn, etc. or illegally raise funds. Illegal fund-raising by claiming shares, participating in dividends, entrusting investment, entrusting financial management, etc. Illegal fund-raising through membership cards, membership cards, seat cards, discount cards, consumption cards, etc. (2) Divide real estate, real estate and other assets into equal parts, and raise funds at high interest rate by selling their shares. The latest change is: illegal fund-raising by selling its share and promising to sell it for leaseback, after-sale repurchase and regular rebate. (3) Illegal fund-raising in the form of folk clubs. Recent changes: using underground banks to raise funds. (four) illegal fund-raising in the form of signing economic contracts such as commodity distribution. Common ones are: illegal fund-raising by means of commodity sales and leaseback, repurchase and transfer, membership development, business joining and "quick integral method". (5) Issuing lottery tickets or issuing them in disguised form to raise funds; (six) illegal fund-raising in the form of pyramid schemes or secret series; (7) illegal fund-raising in the form of orchard and manor development, such as illegal fund-raising in the name of planting, breeding, project development, manor development, ecological and environmental protection investment, etc. (eight) the use of modern electronic network technology to build "electronic shops", "electronic department stores" and other "virtual" products to invest in entrusted operations, repurchase and other illegal fund-raising activities. (nine) illegal fund-raising by setting up investment funds through the Internet; (10) illegal fund-raising in the form of "electronic gold investment" is characterized by using legal acts to cover up illegal purposes. Illegal fund-raising is often voluntary, so it is also a very important content in the identification of responsibility or compensation for interests, because after the fund-raising, the actor often runs away and can't find the subject of implementation, so the losses incurred should be borne by himself.